Quote:
Originally posted by clickhappy
I wouldn't go into real estate with $10k
After a down payment and closing costs you'd be left with $0 (if youre lucky).
And if the place was vacant for 2 months after that, then you'd be in the hole.
If youre going to do it anyways, start with very small deals and dont bite off more than you can chew. A lot of people lost everything because they got greedy and bit off more than they could chew.
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ya right, plenty upon plenty of FHA 3% down or less with seller concessions not including sherrif sales that you catch before the sherriff shows up. 10k is plenty to pick up a decent house that mortgages at 1200 a month and you can rent for 1500-1600 easily. We got 7 investment properties of this exact magnitude. Taking this type of advice from GFY is foolhearted at best. How many investment tips do you want from 18 year olds?
